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PDZ denies report on asset-buy, corporate exercise talks
by Cals Fri 15 Aug 2014, 00:50
| PDZ denies report on asset-buy, corporate exercise talks |
| Business & Markets 2014 |
| Written by Jeffrey Tan of theedgemalaysia.com |
| Thursday, 14 August 2014 14:08 KUALA LUMPUR (Aug 14): PDZ Holdings Bhd has denied news reports indicating that the shipping firm was in discussion with certain parties to acquire assets and undertake corporate exercises in Indonesia or Malaysia. In a statement to Bursa Malaysia, PDZ said the potential assets were part of the company's business plan formulated in general terms. PDZ said the plan might involve fund raising exercises, including a rights issue. The firm said any due diligence on potential assets was only part of the normal business process and governance undertaken by the company. “There are no negotiations taking place pending completion of the due diligence. "Therefore, we wish to reiterate that PDZ is currently not in any discussion with any party for any acquisition of assets and/or corporate exercise whether in Indonesia or Malaysia, save for negotiations for the acquisition of 20% stake in Efogen Sdn Bhd, which had already been announced to Bursa Malaysia on 14 May 2014," PDZ said. Nevertheless, PDZ said it was keen to explore potential acquisitions or exercises that would enhance shareholder value. PDZ said Asia Pacific was a key market for the company. “As a growth-oriented company and in line with our transformation plan, PDZ is keen to explore any potential acquisitions or exercise,” it said. |
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